KO Forms Descending Triangle For Short-Horizon Yield
KO finished forming a descending triangle moving towards a critical support of 44.26 based on a previous low. RSI is in decline and DM- overtook DM+, all indicating stronger sell pressure.If 44.26 support broken likely to descend into the region of 41 - 38.
However, fundamentally KO is trading undervalue right now despite recent macro factors. Earnings up 44% boosts KO intrinsic value upwards of 55. Would definitely recommend buying KO at next local low for long-term hold.
Conservative take profit set at 41.
However, fundamentally KO is trading undervalue right now despite recent macro factors. Earnings up 44% boosts KO intrinsic value upwards of 55. Would definitely recommend buying KO at next local low for long-term hold.
Conservative take profit set at 41.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.